Stena International S.A. Announces Debt Tender Offer (BBG)
The issuer announces Debt Tender Offer, according to a statement issued today.
Key excerpts:
· Stena International S.A. hereby announces the commencement of a cash tender offer to purchase any and all of its outstanding 5.75% Senior Secured Notes due 2024, guaranteed by Stena AB and certain of its subsidiaries and secured by certain assets of the Company's subsidiaries.
· The Tender Offer is conditioned upon the satisfaction of certain conditions that may be waived or changed, including the completion by the Issuer of an offering of senior secured notes on terms satisfactory to the Issuer in its sole discretion, generating aggregate proceeds of at least $350 million and conversion of such foregoing aggregate proceeds from the proposed Notes Offering from the currency in which it is issued to the U.S. dollars required to fund the Tender Offer in an amount at least equal to the aggregate amount required to fund the Tender Offer.
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